Am I eligible to refinance my student loans?

Student Loan Entrance and Exit Counseling

Students are required to attend in-person or online entrance and exit counseling sessions if the following loan types are borrowed:

  • Direct Subsidized and Direct Unsubsidized Loans
  • Stafford Loans (either subsidized or unsubsidized)
  • Grad PLUS Loans
  • Perkins Loans

The entrance and exit counseling sessions are intended to help you understand your responsibilities, as well as your entitlements, as a borrower. Unlike other loan types, Federal student loans involve a number of unique features that you should be aware of as you either begin borrowing for your education, or embark upon your grace period and repayment term. If you attend an in-person session, this is also your opportunity to ask questions of the presenter or benefit from the Q&A with other students. If you complete an online session, you will be required to take a quiz with a passing score. Note: entrance counseling is required for first –time borrowers of specific federal student loan types and exit counseling is required for all borrowers upon graduation or withdrawal, including a change to less than half-time enrollment status. 

Entrance counseling is not required for:

Parent PLUS Loans*
Direct Consolidation Loans
Private Student Loans
Private Consolidation Loans

*As of March 29, 2015, parents with an adverse credit decision who appeal the credit decision or pursue an endorser for credit approval for a Parent PLUS loan must complete PLUS Loan counseling.

Entrance counseling sessions provide an overview of the terms you agree to in signing your student loan promissory note. Exit counseling sessions help you prepare for repayment by providing helpful information on repayment plans and other options such as student loan consolidation or refinancing.

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Am I eligible to refinance my student loans?